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US Futures Slip as Fed Waits For Sustained Economic Growth Before Tapering

Posted
10/31/2013 8:57:00 AM
By: MT Newswires
Referenced Stocks:FB;SBUX

US stock futures pointed to a lower open, extending losses made late yesterday after the Federal Open Market Committee suggested it wants to see more sustained growth in the economy before it starts scaling back its $85-billion-a-month asset purchasing program.

Today, the U.S. Labor Departments reported that weekly jobless claims fell by 10,000 to 340,000, less than the expected 15,000 drop.

In equities, Facebook ( FB ) gave up sharp gains made in after-hours trading and earlier this morning in the wake of better-than-expected Q3 results. It slipped 0.75%. Starbucks ( SBUX ) was lower 2.04% on a disappointing outlook.